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Strong Financial Fundamentals

There may be nothing mistaken with being happily stinking wealthy and totally detached. Nothing, that’s, except you make criticizing your political opponent as “elitist” and “out of touch” a centerpiece of your marketing campaign. Rick Davis, speaking on behalf of his $100 million man John McCain, earlier this month provided the latest formulation of Barack Obama as an effete, aloof denizen of the higher class:
“Solely celebrities like Barack Obama go to the gym 3 times a day, demand ‘MET-RX chocolate roasted-peanut protein bars and bottles of a tough-to-find organic brew – Black Forest Berry Trustworthy Tea’ and worry about the price of arugula.”
After all, Davis’ “arugula struggle” is just another attempt at misdirection. In any case, John McCain’s $5 million threshold where “you progress from center class to rich” is simply the latest episode of his enduring disconnect from the true lives of the American people.
For starters, McCain in April declared that there had been “nice progress economically” throughout the Bush years. On a couple of occasion, he diagnosed People’ issues over the dismal U.S. economic system as “psychological.” (Phil Gramm, McCain’s close good friend and adviser supposedly excommunicated over his “whiners” remarks, was again with the campaign last week.) McCain, a man who owns eight properties nationwide, in March lectured Individuals going through foreclosure that they must be “doing what is necessary — working a second job, skipping a trip, and managing their budgets — to make their funds on time.” And when all else fails, McCain informed the individuals of the economically devastated areas in Martin County, Kentucky and Youngstown, Ohio, there’s at all times eBay.

In his defense, McCain’s shocking tone-deafness might simply be a matter of perspective. When you are as nicely off as he’s, something beneath a $5 million income (a figure exceeding that earned on average by the highest zero.1% of Individuals) seems middle class.

*The $one hundred Million Man*
Courtesy of his wife Cindy’s beer distribution fortune (one her late father apparently chose not to share with her half-sister Kathleen), the McCains are price nicely over $one hundred million. (In the two-page tax abstract she eventually released to the general public, Cindy McCain reported one other $6 million in 2006.) As Salon reported back in 2000, the second Mrs. McCain’s millions had been important in launching her husband’s political profession. Unsurprisingly, the Weekly Commonplace’s Matthew Continetti, who 4 years ago known as Theresa Heinz-Kerry a “sugar mommy,” has been silent on the topic of Cindy McCain.

*The Joys of (Eight) Dwelling Ownership*
While fellow adulterer John Edwards was pilloried for his mansion, John McCain’s eight homes across the nation have obtained little notice or criticism. His properties embody a ten acre lake-aspect Sedona property, euphemistically known as a “cabin” by the McCain campaign, and a home featured in Architectural Digest. The one that includes “remote management window coverings” was not too long ago put up for sale. Still, their formidable sources did not forestall the McCains from failing to pay taxes on a tony La Jolla, California condo used by Cindy’s aged aunt.

*The Anheuser-Busch Windfall*
As it turns out, the fantastic thing about globalization is in the attention of the beholder. While John McCain apparently performed a vital role in facilitating DHL’s takeover of Airborne (and with it, the looming loss of 8,000 jobs in Wilmington, Ohio), Cindy McCain is ready to earn a staggering multi-million dollar pay-day from the acquisition of Anheuser-Busch by the Belgian beverage giant, In Bev. As the Wall Avenue Journal reported in July, Mrs. McCain runs the salvatore ferragamo men belt on sale third largest salvatore ferragamo men belt on sale Anheuser-Busch distributorship within the nation, and owns between $2.5 and $5 million in the company’s stock. Amazingly, while Missouri’s politicians of both parties lined as much as strive to block the sale, John McCain held a fundraiser within the Present Me State even because the In Bev deal was being finalized.

*McCain’s $370,000 Private Tax Break*
Earlier this 12 months, the center for American Progress analyzed John McCain’s tax proposals. The conclusion McCain’s plan is radically extra regressive than even that of President Bush, delivering 58% of its advantages to the wealthiest 1% of American taxpayers. McCain’s born-once more help for the Bush tax cuts has one extra bonus for Mr. Straight Talk: the McCains would save an estimated $373,000 a year.

*Paying Off $225,000 Credit card Debt – Priceless*
That huge windfall from his personal tax plan will come in helpful for John McCain. As was reported in June, the McCains have been carrying over $225,000 in credit card debt. The American Specific card – don’t go away your houses with out it.

*Charity Begins at House*
As Harpers documented earlier this year, the McCains are true believers within the outdated saying that charity begins at residence:
Between 2001 and 2006, McCain contributed roughly $950,000 to [their] foundation. That accounted for all of its listed revenue apart from for $100 that came from an nameless donor. During that same period, the McCain basis made contributions of roughly $1.6 million. More than $500,000 went to his kids’ private faculties, most of which was donated when his youngsters had been attending these institutions. So McCain apparently acquired major tax deductions for supporting elite schools attended by his children.
Ironically, the McCain marketing campaign last week blasted Barack Obama for having attended a personal faculty in Hawaii on scholarship. That attack came just weeks after John McCain held an event at his previous prep college, Episcopal Excessive, an institution the place charges now high $38,000 a 12 months.

*Private Jet Setters*
As the brand new York Occasions detailed again in April, John McCain enjoyed using his spouse’s personal jet for his campaign, courtesy of election regulation loopholes he helped craft. Regardless of the controversy, McCain continued to make use of Cindy’s company jet. For her half, Cindy McCain says that even with skyrocketing fuel costs, “in Arizona the only strategy to get around the state is by small private plane.”

*Assistance on the Homefront*
In these robust financial instances, the McCains are capable of stretch their household finances. As the AP reported in April, “McCain reported paying $136,572 in wages to household staff in 2007. Aides say the McCains pay for a caretaker for a cabin in Sedona, care for their teenage daughter, and a private assistant for Cindy McCain.”

Ferragamo Carla Patent Bow Pump Red*Properly-Heeled in $520 Shoes*
If clothes make the man, then John McCain has it made. As Huffington Publish famous in July, “He has worn a pair of $520 black leather-based Ferragamo shoes on each latest marketing campaign cease – from a information conference with the Dalai Lama to a supermarket visit in Bethlehem, PA.” It’s altogether fitting that McCain wore the golden loafers during a golf outing with President George H.W. Bush in which he rode around in cart displaying the signal, “Property of Bush #forty one.

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